Shell Knob, Missouri Property Taxes
The median property tax rate in Shell Knob, MO is 0.89%, slightly lower than both the national median of 0.99% and the Missouri state median of 1.20%. With the median home value in Shell Knob, the typical annual property tax bill reaches $587, well below the national median of $2,690. Property taxes in Shell Knob are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shell Knob's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Shell Knob or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shell Knob, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Shell Knob Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shell Knob with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shell Knob to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shell Knob, Missouri
Property taxes in Shell Knob, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shell Knob is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Shell Knob set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shell Knob estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Shell Knob's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65747 has both the highest and lowest median property tax rate of 0.89%. Understanding how these areas compare with Shell Knob provides valuable insights into the varying tax landscape across Stone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shell Knob Tax Rate
0.89%
Average Stone County Tax Rate
0.93%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shell Knob, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65747 | 0.89% | 0.89% | 0.89% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Shell Knob, Missouri
In Shell Knob, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the county for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Shell Knob helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Shell Knob, the highest and lowest median tax bills are both $587, found in the 65747 zip code.
Average Shell Knob Assessed Value
$61,650
Average Stone County Assessed Value
$50,150
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shell Knob, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65747 | $4,200 | $19,350 | $61,650 | $128,000 | $241,760 |
Source: Ownwell
Property Tax Bills Across Shell Knob, Missouri
In Shell Knob, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Local tax rates are then applied to this assessed value to determine the annual tax bill. For homeowners in Shell Knob, the median home price is $61,650. Tax bills vary significantly, with the 25th percentile at $181 and the 75th percentile reaching $1,227. The 90th percentile tax bill can go as high as $2,350, indicating a broad range of potential tax obligations depending on the property's assessed value and applicable exemptions. The median tax bill in the area is $587, which is notably lower than the national median property tax rate of 0.99%. This relatively low tax burden can be an advantage for homeowners, making Shell Knob an attractive place for those looking to minimize annual property expenses. Understanding these factors helps homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Shell Knob Tax Bill
$587
Average Stone County Tax Bill
$460
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Shell Knob, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65747 | $38 | $181 | $587 | $1,227 | $2,350 |
Source: Ownwell